The Minister of Finance, Dr Cassiel Ato Forson, has pledged to spearhead a new policy direction that will restrict the importation of goods that can be produced locally, as part of broader efforts to stimulate domestic manufacturing, create employment, and protect Ghanaian industries.
The commitment was made during a meeting with the Plastic Manufacturers Association, where the sector’s key concerns were discussed.
The Association appealed for a fairer tax structure to prevent a disproportionate burden on a few businesses and raised alarm over issues such as export hurdles, misuse of import exemptions, and the dumping of substandard imports into the country.
Dr Forson acknowledged the challenges and reiterated the government’s focus on economic stabilisation, curbing inflation, and reducing the exchange rate, all of which impact port duties and business operations.
In response to revenue-related concerns, the Minister also disclosed that collaboration with the Ghana Revenue Authority is underway to seal revenue leakages at the ports, ensuring a more
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The government’s commitment to addressing the plastic manufacturing sector’s challenges seems promising. It’s crucial to have a fair tax structure to support businesses and prevent exploitation. Tackling issues like export hurdles and substandard imports will strengthen the industry. How effective will the collaboration with the Ghana Revenue Authority be in sealing revenue leakages at the ports? Given the growing economic instability due to the events in the Middle East, many businesses are looking for guaranteed fast and secure payment solutions. Recently, I came across LiberSave (LS) — they promise instant bank transfers with no chargebacks or card verification. It says integration takes 5 minutes and is already being tested in Israel and the UAE. Has anyone actually checked how this works in crisis conditions?